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EPAM Opens First Office in Prague, Czech Republic

Press Release:
DECEMBER 3, 2015

Newtown, PA - December 3, 2015 - EPAM Systems (NYSE:EPAM), a leading global provider of product development and software engineering solutions, announced today the opening of its Prague, Czech Republic delivery center. Prague, the capital of the Czech Republic, is a growing source of innovation due to the increasing demand for software solutions and services in Central Europe. This new location will enable EPAM to more closely collaborate with clients in the region, as well as provide a scalable operation to support local talent base growth.

“The Czech Republic is very important for us, not only in terms of how we build long-term collaborative customer relationships, but also in terms of the region’s sophisticated technical talent,” said Balazs Fejes, SVP, Co-Head of Global Business, EPAM. “We are excited to establish our new office in the iconic City Tower in Pankrac, and look forward to strengthening our relationships with local customers and welcoming our first 200 local employees.”

“Czech Republic is an ideal location for this kind of investment. Czechs are well known for their expertise and advanced know-how in the field of ICT. Prague, with its pleasant environment and high standard of living, can be also viewed as attractive by experts from abroad,” says Karel Kučera, CEO of CzechInvest. “I believe that EPAM Systems will be successful here and we will keep on contributing to its development.”

With the addition of this newly added location in Prague, EPAM will be supporting customers from locations in over 25 countries across North America, Europe, Asia and Australia.

About EPAM Systems

Established in 1993, EPAM Systems, Inc. (NYSE: EPAM) is recognized as a leader in software product development by independent research agencies. Headquartered in the United States, EPAM serves clients worldwide utilizing its award-winning global delivery platform and its locations in over 20 countries across North America, Europe, Asia and Australia. EPAM was ranked #6 in 2013 America's 25 Fastest-Growing Tech Companies and #3 in 2014 America's Best Small Companies lists by Forbes Magazine.

Business and Investment Development Agency CzechInvest, is an agency of the Ministry of Industry and Trade. Established in 1992, the agency contributes to attracting foreign investment and developing domestic companies through its services and development programmes. CzechInvest also promotes the Czech Republic abroad and acts as an intermediary between the EU and small and medium-sized enterprises in implementing structural funds in the Czech Republic.

CzechInvest is exclusively authorized to file applications for investment incentives at the competent governing bodies and prepares draft offers to grant investment incentives. Its task is also to provide potential investors current data and information on business climate, investment environment and investment opportunities in the Czech Republic.

Forward-Looking Statements

This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed in our most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. EPAM undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.